Shinseong Biopharm, a marine bio-technology company based in Gangwon Special Self-Governing Province, has been selected for the 2026 Innovative Small Business Investment Connection Support Project (LIPS II) as of October 1, securing government support of 115 million KRW.
This selection marks a significant milestone following Shinseong Biopharm's earlier acceptance into the TIPS program, which is designed to drive private-sector investment for technology startups. With this backing, the company is poised to enhance its marine bio foundational technologies and further commercialize high-value materials.
Shinseong Biopharm’s selection for LIPS II was spurred by a consortium recommendation from the Gangwon Creative Economy Innovation Center and the Gangwon University Technology Holdings Company. This collaboration has validated the potential for growth and commercialization within the marine bio sector.
At the heart of Shinseong Biopharm's initiatives is the conversion of fishery by-products from salmon processing into high-value bio-materials. The company aims to expand its operations by enhancing extraction, purification, and production processes for collagen and PDRN (Polydeoxyribonucleotide), as well as PN (Polynucleotide), targeting both cosmetic and medical device markets.
With LIPS II, the focus will be on refining the manufacturing technology for collagen and PDRN/PN derived from salmon by-products, aiming to improve uniformity, purity, and reproducibility in quality. This is expected to elevate the commercialization potential of high-functional cosmetic ingredients and validate opportunities for medical device applications.
In addition to its marine bioproducts, Shinseong Biopharm is developing cosmetics and inner beauty products utilizing its proprietary marine bio-materials. As the company continues to expand into international markets, this initiative is set to strengthen its manufacturing technology and profitability structure linking raw material production with finished product sales.
CEO Mira Song stated, "The selection for LIPS II following our inclusion in TIPS is a significant achievement, demonstrating the recognition of Shinseong Biopharm's accumulated marine bio-technological capabilities and commercialization potential." She emphasized the importance of collaboration with regional entrepreneurs and technology commercialization investment institutions in securing growth opportunities.
Shinseong Biopharm is dedicated to establishing a sustainable marine bio-industry growth model by combining resource recycling of fishery by-products with advanced bio-material technology.
